The state of the housing market in Lee Green, November 2015

James Ankers KFH Nov 2015 In the first of his monthly reports, James Ankers of Kinleigh, Folkard and Hayward tells us the property market in the borough is storming away

During the three month period to September, Lewisham Borough experienced the second highest percentage increase across the capital, according to Land Registry data. Many industry experts are suggesting that the borough will hit top spot in the coming months.

This comes as no surprise to those of who live and work in the area who have seen this ‘gem’ of south east London continue to develop and improve month on month and year on year.

When demand grows and supply slows, prices invariably rise and the biggest problem I now have is not enough residents are selling!  The great transport links to London and very impressive reputation of local schools continue to be the two biggest ‘flag bearers’.

Traditionally, local buyers who love SE12 have chosen to stay put and climb the well-trodden ladder from conversion flat to smaller house to larger hoKFH EXT2use.  However, the attractions and prices in Lee Green have led to interest from elsewhere. 52% of our buyers in the area so far this year originate from SW and N postcodes. 

Lenders seem to beloosening their purse strings, and buyers with deposits from 10% upwards don’t appear to having many difficulties obtaining funds. The much-needed and applauded stamp duty changes in 2014 have undoubtedly helped buyers in the area. With an average sale price of £502,000 we have seen buyers save an average £4,980. At the same time, the extra stamp duty on higher priced properties has had no discernible effect on the top end of the market.

The outlook looks positive moving towards 2016; the area has quite a few new build developments popping up, as Lewisham Council appears to be taking an open-minded view on housing demands….and I know a lot of local eyes are firmly fixed on Leegate to see what transpires.

James Ankers, Sales Manager

Kinleigh Folkard & Hayward

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